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SHANGHAI and SEOUL, South Korea , April 19, 2023 /PRNewswire/ -- Hyundai Mobis (KRX 012330) took part in Auto Shanghai 2023, the first large-scale automobile exhibition following the Chinese Government relaxing its zero-COVID policy, to expand its business in China. Hyundai Mobis will hold extensive meetings with local and global automakers during the motor show. The company is also to introduce its strategy of zeroing in on the electric vehicle market centered around its electrification platform in China, which has emerged as the largest EV market in the world.
Hyundai Mobis is introducing 24 mass-producible technologies, including IVI and electrification products, at Auto Shanghai 2023 starting on the 18th of this month. Leading technologies include the integrated cockpit solution (M.VICS 4.0), in-cabin sensing solution, steer-by-wire system, and holographic AR head-up displays (HUDs).
The international automobile exhibition is held in Shanghai against the backdrop of heightened interest from the global auto industry since the country resumed its economic activities, and, accordingly, over 1,000 automakers and automotive suppliers from more than 20 countries worldwide have flocked to Auto Shanghai 2023 to flaunt their latest innovations.
Hyundai Mobis sees the exhibition as an opportunity to win more deals in China. Subsequently, Hyundai Mobis will invite about 200 CEOs and the C-suite of nearly 80 global automakers, such as BYD, BMW, and Stellantis. Hyundai Mobis has made an exhaustive investigation prior to the show, identifying customer requests and interests for each meeting and then selecting what to exhibit in the show.
In China, Hyundai Mobis has an organization system that suits for a consistent local response, starting from product planning through to development, winning new orders, and mass-production. Thanks to such endeavors, the company has posted the highest number of winning orders in the Chinese market in history last year. This was made possible because Hyundai Mobis has gained customer trust through localized organic cooperation and the superb capability to produce at scale amid the restricted access during the pandemic and the international semiconductor shortage. This year, Hyundai Mobis aims to win the first USD 1 billion order intakes in the Chinese market.
The company also invited local media outlets in China to a press conference on the 19th during the motor show. In the presentation, Hyundai Mobis introduced its sales strategy of targeting electrification market in China, the biggest EV market in the world. In addition, Hyundai Mobis unveiled the Electric Complete Chassis Platform Module (e-CCPM), optimized for EVs. e-CCPM is an integrated electrification solution that combines the brake, steering, suspension, drive, and battery systems on an aluminum frame that can be scaled up or down as needed.
Axel Maschka, Hyundai Mobis Executive Vice President, and head of Business Division, delivered a speech at the show stressing, "We will create new customer value based on our competitiveness with world-class quality as well as stable local sales and production organizations in the fast-changing EV market in China."
Hyundai Mobis is currently operating seven production locations and three R&D locations in China and is taking steps to win orders through a customized sales strategy from the local subsidiary and the local sales office. Through this, Hyundai Mobis plans to increase the supply of products to existing customers, while securing more customers to strengthen its competitiveness in winning more deals.
About Hyundai Mobis
Hyundai Mobis is the global no. 6 automotive supplier, headquartered in Seoul, Korea. Hyundai Mobis has outstanding expertise in sensors, sensor fusion in ECUs and software development for safety control. The company's products also include various components for electrification, brakes, chassis and suspension, steering, airbags, lighting, and automotive electronics. Hyundai Mobis operates its R&D headquarters in Korea, with four technology centers in the United States, Germany, China and India. For more information, please visit the website at http://www.mobis.co.kr/
Media Contact
Jihyun Han: jihyun.han@mobis.co.kr
Choon Kee Hwang : ckhwang@mobis.co.kr
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SOURCE Hyundai Mobis